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Host Jordan Goodman of Money Answers TV talks with Paul Oster, President of Better Qualified, about why it’s so important for small business owners to establish a business credit profile, to monitor their business credit report, and what they can do to remove errors and improve credit scores. A good business credit profile helps establish that your business is a good credit risk when it comes time to get approved for a loan or line of credit. Lack of access to credit in times of needs is the number one reason why businesses go out of business! Make sure you build a business credit profile ● Biggest business credit problem is that many small businesses don’t have a business credit profile ● You have to participate as a business entity to build business credit; don’t use personal resources ● Put assets such as your car, credit card, equipment under business ownership ● Build supplier credit while making sure they report to Dun and Bradstreet ● Business credit is not tied to you personally, you are not personally liable for business debts Monitor your Dun & Bradstreet credit report for accuracy ● Errors can hurt your business and cost you money by lowering your business credit score ● Know what to look for: Paydex score of 80 considered ‘perfect’ business credit score If you’d like to learn more about establishing a business credit file or getting errors off of your record and improving your Paydex score, go to www.toudebusiness.com or give Better Qualified a call, 732-413-8627. As a personal finance expert, Jordan recognizes quality solutions, forming affiliate relationships to help improve people's financial lives.